Have the past couple of days made you feel drowsy with Bitcoin? It has been fluctuating between 93000 and 98000, like taking deep breaths, preparing for a big move. But don't rush; institutions are generally optimistic about the market next year, and I personally think this is an upward trend. After all, after the rocket-like rise in the past two months, the market needs to catch its breath and stabilize! The market can change its face faster than flipping a book, so we must remain patient.
On the daily chart, the current market shows signs of fatigue, with a large bearish candle plunging vertically. Although there are occasional struggles to recover, the overall trend continues downward; however, the downward momentum has weakened, and the appearance of a lower shadow creates the possibility of a rebound. Looking at the 4-hour chart, the bearish candles continue to descend, like a flood breaking through a dam, until support is found at the lower bound, signaling a rebound. Therefore, the key support level at 93000 has become the focus of the market. If this level can hold, we can consider going long; conversely, if the support fails, it would be wise to go short.
Long Bitcoin around 93000, targeting 94000-95500.
Long Ethereum around 3370, targeting 3450-3500.
